“Dilijan” Program
In adherence to the Law on the Central Bank of Armenia and the Republic's Constitution, our core objectives revolve around ensuring and maintaining price and financial stability. One of the pivotal steps to achieve these objectives is the enhancement of our research capabilities to integrate into the global research community, which is embodied in the establishment of the Dilijan Training and Research Center.
The Dilijan Center stands not only as a hub for research advancements but also as a focal point for conferences, building relationships, and cooperating with diverse institutions and academics, fostering cooperation on the international level. This strategic collaboration ensures a continuous enhancement of human capital within the Central Bank.
Our vision extends beyond the limits of the financial sector, aiming to make a systemic impact on the communities in Dilijan. Committed to providing equal merit-based opportunities to ensure necessary learning opportunities similar to the ones that are available in Yerevan for the Tavush region, so that children can get necessary knowledge starting from kindergarten and school up to the undergraduate and graduate university level.
From supporting knowledge-based clusters in kindergartens to sponsoring the Bachelor’s and Master's programs in Economics at universities including the American University of Armenia and the Yerevan State University in Ijevan, our investments span a wide spectrum to achieve our long-term goals.
In the pursuit of knowledge and capacity building, we have established a school operated by AYB School, offering merit-based scholarships to Dilijan's youth. Our investments extend to the Ijevan branch of Yerevan State University, where we have elevated the undergraduate economics curriculum to meet higher standards. Moreover, graduates from these institutions find valuable job opportunities within the Central Bank.
Our commitment to innovation is evident through our investments. The collaboration with the Central Bank of Armenia led to the establishment of additional Tumo Centers beyond Yerevan, and the second branch is found in the heart of Dilijan.
Another significant establishment is the FabLab - an innovation academy fostering equal opportunities for advancements. The center is part of a worldwide network comprising more than 1,750 Fab Labs, providing access to contemporary digital manufacturing technologies for anyone with a curious mind. It serves as a communal hub for educational endeavors, ongoing learning, boundless creativity, and pioneering innovation—all driven by a commitment to curiosity and the resolution of challenges.
The Central Bank of Armenia actively engages in collaborative partnerships with various prestigious universities on an institutional level through memoranda of understanding (MoU), including renowned institutions such as MIT, Harvard, the University of Notre Dame, and Tufts University.
We offer a summer internship program to students local and foreign students, creating a mutually beneficial relationship where they gain valuable experience, and we benefit from their role as program ambassadors. During the 2-month internship, the participants are required to research various topics related to the functions of the CBA and the Armenian economy. To complete the internship, the students will present their observations and findings to the CBA Board.
This program, initiated in 2014 in collaboration with the Harvard University Davis Center for Asian and Eurasian Studies, has proven to be highly successful. Presently, approximately 20 students from distinguished universities like Harvard, Stanford, Chicago, Warwick, Bocconi, IE University, and others participate in the program annually.
Students from foreign universities are primarily accommodated at the Dilijan Training and Research Center, an ideal hub for research equipped with state-of-the-art facilities, databases, and other essential resources, providing a serene environment away from the bustling city. In addition to their academic pursuits, these students have the opportunity to immerse themselves in the rich cultural and historical heritage of Armenia through visits to various significant locations.
The Central Bank of Armenia’s Dilijan Training and Research Centre is home to the quarterly Central Bank Macro Modeling Workshop (CBMMW) series. These workshops were first launched in 1997 in an annual format at the Reserve Bank of New Zealand and have served as one of the most important gathering points for pioneering researchers and policymakers to collaborate on ways to push the frontiers of the Forecasting and Policy Analysis System. The CBA hosted the CBMMW at the Dilijan Training and Research Centre in both 2016 and 2019, featuring such speakers as Maurice Obstfeld, Lawrence Christiano, Christopher Carroll, and many others.
With the development of the FPAS Mark II - which incorporates a risk management approach to monetary policymaking - the CBA has introduced a quarterly format, with the conference taking place in a hybrid format (both in-person in Dilijan and online). The workshop is followed by several weeks of courses open to CBA staff, researchers, and economists globally, with a focus on monetary economics, advanced modeling approaches, and open-source software.
Under the CBA’s tutelage, these workshops have focused on the intersection of policymaking frameworks with first-class advanced analytical approaches. They have provided a platform for central bankers (at the CBA and institutions worldwide) and economists at large to present to and learn from cutting-edge researchers and policymakers globally.
Since the adoption of the quarterly format in 2023, notable speakers and presenters have included Lawrence Summers, Charles Goodhart, Eric Leeper, Athanasios Orphanides, James Hamilton, Marco del Negro, Werner Roeger, Lawrence Schembri, Robert Ford, Hamid Faruqee, Martin Harding, Michael Kiley, and many others.
Beyond Dilijan, our focus extends to shaping Armenia's e-society and e-economy. Our digital transformation prioritizes service-oriented improvements in daily life. Enabling a shared infrastructure for the public and private sectors, we combine services into a national gateway, fostering collaboration and creating a marketplace. Embracing a digital approach, we envision an e-society project that provides open and quality data as national wealth, delivering streamlined, personalized, and proactive digital services.